STEEL ACHIEVER
01 Feb 2020
Lakshmi Mittal, Chairman and CEO of ArcelorMittal, is making news. His firm has completed the acquisition of Essar Steel India, and simultaneously established a JV with Nippon Steel Corporation (Nippon Steel) – ArcelorMittal Nippon Steel India (AM/NS India) – which will own and operate Essar Steel. ArcelorMittal holds 60 per cent of AM/NS India, with Nippon Steel holding the balance. In the words of Mittal,
“The acquisition of Essar Steel is an important strategic step for ArcelorMittal. India has long been identified as an attractive market for our company and we have been looking at suitable opportunities to build a meaningful production presence in the country for over a decade.
Both India and Essar’s appeal are enduring.” Under the leadership of Mittal, ArcelorMittal a world leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries.
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